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TN Oppn parties slam budget, point to rising debt burden

Press Trust of India  |  Chennai 

Opposition parties in Tamil Nadu, Friday launched a scathing attack on the over aspects such as rising debt burden and fiscal in the budget.

"The budget has no use for the poor and common people and the government is not bothered about farmers," DMK M K said.

Rather than being growth oriented, the financial statement was focused on debt servicing, he told reporters.

Dubbing the budget as "shadow," and not real, he said it was disappointing that there was "no announcement to generate employment opportunities," when there were one crore unemployed graduates who have registered themselves in exployment exchanges.

"Approximately there is a debt of abour Rs 4 lakh crore. There is, however, no announcement for revenue generation," the said.

The fiscal management scenario was tantamout to facing a bad failure in view of the mounting government debt, revenue and fiscal deficits, he said.

During Chief Minsiter K Palaniswami's rule alone loans to the tune of Rs 1,45,064 has been secured pushing the fiscal situation to an "emergency" and putting Tamil Nadu's economic growth clock behind by 25 years, he alleged.

CPI (M) K Balakrishnan alleged the budget showed that the state economy has become "bankrupt."

The top said the budget was shorn of vision and schemes for growth. "The budget is a mere compilation of offers no solution for shrinking job opportunities and farm distress."

The allocations made for poverty alleviation, upgrading urban infrastructure, and irrigation only appeared to be eyewash, he claimed.

No new relief measures have been announced for those hit by cyclone Gaja, and no answers for problems -including debt and absence of renumerative price- faced by farmers.

Not disclosing the government's action on key issues like Hydrocarbon extraction proposals in Cauvery delta region and is a "betrayal" of people, Balakrishnan said.

R Mutharasan said the budget did not reflect any of the expectations of the people,adding it was not aimed at either welfare or growth of the people.

There was no debt relief for farmers and no plan to ensure the rehabilitation of people affected by cyclone Gaja.

While the "debt touched Rs 4 lakh crore...the government has not clarified as to how it is going to tackle the revene of Rs 44,176 crore."

PMK founder S Ramadoss said some projects like the Athikadavu Avinasi for which fund allocation has been made were welcome while the rest were contrary to the people's expectations and hence disappointing.

AIADMK's rival and Kazhagam TTV Dhinakaran hit out at the government for its alleged administrative inefficiency.

"Now, the government's debt has jumped to Rs 3,97,000 crore for which the interest alone is over Rs 30,000 crore per annum. The increasing debt and skyrocketing interest is an indicator of administrative inefficiency," Dhinakaran, who is also an MLA representing RK Nagar here, said.

wondered how the budget will lead the State towards growth when allocation for key sectors have been downsized.

Manithaneya Makkal Katchi said the allocation of Rs 10,559 crore for agriculture was grossly inadequate and claimed that the budget had no utility for the poor and common people.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 20:10 IST